04-03-2024, 12:48 AM
hal wrote:
not just all that, but for many years the number of new people moving to CA outstripped the number of new dwelling built. It was like that year after year and then Paradise, CA burned up and suddenly 20000 more people were looking for a place to live.
The supply/demand in housing has been wrecked ever since.
The cost of a crappy 1 room studio rental in Sacramento has literally doubled in 10 years.
Yep. My apartment building was sold twice in the last 3 years I was there. Too bad they didn't install a security gate to reduce chance of cars being stolen (or having converters cut out). I got a break on rent because they couldn't refurb my apartment while I was living there. When I left, I was paying half ($825) what the other tenants were. 1 bed in the same area are now $2000 - $3500.
I wish I had done what a friend did, buy a house in a mostly flood-free area of West Sac. He almost doubled his money when he sold after graduating Sac State.
It might be partly due to fires. I would like to see a trend chart to directly tie it to that. I think it's more low interest rates from 2009 to 2018 enabling large companies to buy up large numbers of homes for rental.